Do I need to update my Wallet now or can I also do this let's say for example in two months?

If you don't upgrade, any staking/masternoding that you do after zPIV implementation will be on the wrong fork and therefore invalid. So if you want to continue staking/masternoding, then yes, you must upgrade now. If you don't care about staking (e.g. if you hold your PIVX offline) then you can wait if you want; you won't lose your existing coins. But to do anything with them in the future you'd need to upgrade anyway. Basically, you should upgrade now unless you a) hold your PIVX offline and b) are very lazy.

By holding on an exchange you're unable to receive rewards, but I assume you're OK with that. If you're asking whether you'll lose access to your PIVX after zPIV implementation if you leave them on the exchange, the answer is 'it depends'. Since you're on Bittrex, and Bittrex is generally on top of these things, you are 99.9% fine. If you had them on e.g. Yobit, you'd probably be screwed since they take forever to update wallets (if they do it at all). That said, even if an exchange was slow to update its wallets, you would regain access as soon as they eventually got around to updating.

I guess the broader point is that by holding your coins on an exchange, you're putting your fate in someone else's hands. Bittrex is trustworthy so it's not a big deal, but the only way you can be 100% certain is to hold them in a wallet for which you control the private key.

I am shocked by the support by the team.. I am losing money just saying.

I strongly agree with you it's a shame and insult to intelligence and rationality for the pivx teams to totally neglect bitcointalk... As I have no knowledge or understanding about why this was done I can only encourage you to visit :

Hey all... not sure if anyone here knows... but in the PIVX source code... where is the pubkey_address stored? in litecoin clones it is on a line that says pubkey_address. pretty straight forward. Anyone familiar with the PIVX code?

My wallet also kept crashing, I erased the old blockchain files and replaced with a fresh up to date blockchain and now the wallet does not crash. Also make sure you just have the wallet running by itself when opening, sometimes this can cause a hang up with resources being used up while loading the blockchain initially.

Hey all... not sure if anyone here knows... but in the PIVX source code... where is the pubkey_address stored? in litecoin clones it is on a line that says pubkey_address. pretty straight forward. Anyone familiar with the PIVX code?